What To Expect From The Markets This Week - 100918

The National Bureau of Statistics (NBS), recently published the merchandize trade report for the second quarter of 2018. The total value of trade at the end of the period stood at N6,596 billion which reflects a 8.89% decline. Total merchandize to GDP fell from 25.5% at the end of the first quarter of 2018 to 22.5% at the end of the second quarter.

Fig 1: Total Trade to GDP

Source: NBS

Total exports for the period stood at N4.463 billion, underlining a 4.9% dip when compared to the previous quarter. This dynamic was as a result of a 25.98% fall in solid mineral exports combined with a 83.9% fall in manufacturing.

The underline reality further accentuated the degree of export concentration, as oil export to total export increased from 66.4% at the end of the first quarter of 2018 to 71.4% at the second quarter of 2018.

Fig 2: Oil export to total export

Source: NBS

However, total import at the end of the second quarter of 2018 stood at N2,106 billon, thus reflecting a 16.67% decline when compared to the previous. Holistically, there was a broad decline, more importantly is that it that shows growth so far has failed to trigger import induced demand.

The National Bureau of Statisticswill on this day release the 2017 Post Measles Campaign Coverage and the 2017/18 Sector Survey Report for the Creative Industries, Manufacturing, Solid Minerals and Mining and the Transport and Storage Sector.

Honeywell Flour Mills Plc will on this day be marked down by the NSE having declared a dividend of N0.06 in the preceding week, while the Lagos Aviation Academy will this day hold its IATA Foundation in Travel & Tourism programme.

China’s Inflation Report for August 2018 will be released on this day, while the United Kingdom releases its GDP, Industrial Production and Trade Balance Report for July 2018.

The 43rd Meeting of the Technical Committee of West African Monetary Zone (WAMZ) will kick start this day in Abuja.

Spainand Germany will on this day release their August 2018 Inflation Report, while the United Statesreleases Producer Price Index for August 2018 and the E.U releases its Industrial Production Report for July 2018.

The 37th Meeting of the Committee of Governors of the West African Monetary Zone (WAMZ) will hold this day in Abuja, while the National Building Energy Efficiency Code (BEEC) Workshop by GIZ holds on the same day.

The 5th Annual Memorial Lecture in honour of His Excellency, Dr. Olusegun Kokumo Agagu (CON)holds this day in Lagos.

The UK and ECBMonetary Policy Meeting will hold on this day, while Australia will release its unemployment rate report for August 2018, just as the United States andFrancerelease their Inflation Report for August 2018.

The 40th Meeting of the Convergence Council of West African Monetary Zone (WAMZ)will commence on this day in Abuja.

Italy will this day release its Inflation Report for August 2018, while the US and Japan release their Industrial Production Report for August and July 2018, respectively; and E.U its trade balance report for July 2018.